It's been a while since the business climate has looked quite like this. Facing a pandemic hangover, supply chains that are still snarled, rampant inflation and very high interest rates, businesses are challenged by levels of uncertainty they haven't faced in a long, long while. The tech sector has experienced large-scale layoffs at Microsoft, Amazon, Meta and others while retailers including Party City and Bed, Bath & Beyond have either filed or are expected to file for bankruptcy protection.
In the face of such uncertainty what's your management plan? Will you pull in your horns, find a safe place to lay low and wait this out? Is this when reactionary decision-making—cloaked as expense management or expense reduction—threatens your ability to invest in technology that could improve your efficiency and move you forward to prepare for the next boom? We think that when times are tough, the tough...invest!
Zero Wait-State CEO Steve Porter discusses the pro's and con's of both management styles in this video. Watch it here, and don't forget to subscribe to our Youtube channel at the end.